-- Published: Monday, 12 May 2014 | Print | Disqus
| Close | Gain/Loss |
Gold | $1296.70 | +$8.00 |
Silver | $19.55 | +$0.40 |
XAU | 90.55 | +1.39% |
HUI | 221.90 | +1.23% |
GDM | 662.12 | +0.76% |
JSE Gold | 1488.20 | +2.87 |
USD | 79.89 | +0.02 |
Euro | 137.58 | -0.12 |
Yen | 97.91 | -0.26 |
Oil | $100.59 | +$0.60 |
10-Year | 2.656% | +0.033 |
Bond | 135.375 | -0.375 |
Dow | 16695.47 | +0.68% |
Nasdaq | 4143.85 | +1.77% |
S&P | 1896.65 | +0.97% |
The Metals:
Gold dropped $8.73 to $1279.97 at the open of trade last night, but it then jumped to as high as $1302.77 at about 8:30AM EST today and ended with a gain of 0.62%. Silver surged to as high as $19.647 and ended with a gain of 2.09%.
Euro gold rose to about €942, platinum gained $6.70 to $1432.70, and copper jumped 7 cents to about $3.15.
Gold and silver equities rose about 1% at the open and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Treasury Budget | Apr | $106.9B | $114.0B | $112.9B |
Tomorrow brings Retail Sales, Export and Import Prices, and Business Inventories.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil found modest gains on the outlook for another supply decline in this week’s inventory report.
The U.S. dollar index ended slightly higher in mixed trade as the euro edged lower on more commentary suggesting the European Central Bank may ease monetary policy at its meeting next month.
Treasuries fell as the Dow, Nasdaq, and S&P rose on continued deal making news.
Among the big names making news in the market today were Allergan and Valeant, Weibo, Chrysler, and AstraZeneca and Pfizer.
The Commentary:
“A quick update for those interested in observing the price chart... the metal bounced from support near $1280 on continued Ukrainian unrest. That continues to reinforce the significance of the level. If it goes (on a closing basis) watch for a significant round of speculative long side liquidation.
One thing I am noticing is the series of LOWER HIGHS being made in this market. Each time it manages a pop from Ukraine events, the high is made at a lower level. That tells me that the events there are losing significance in the mind of many traders and that it is going to take a much more severe flare up in tensions to enable the bulls to push past chart resistance levels. The region near $1320 should hold any bounce to keep the picture bearish. A push through that level, particularly if it can breach $1330 or so, would spook a lot more bears. If not, they will use the rallies to sell.
I am watching to see if gold can manage to sustain any sort of closing price above the $1300 level.
The HUI is stronger today holding above support between 218-215 but remains well off any resistance levels.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Help GATA -- Buy a DVD, T-shirt, or poster of our prophetic ad in the Wall Street Journal
Dan Ameduri of Future Money Trends interviews GATA Chairman Bill Murphy
The Statistics:
Activity from: 5/09/2014
Gold Warehouse Stocks: | 8,060,802.292 | +156,217.544 |
Silver Warehouse Stocks: | 175,752,707.306 | +852,243.123 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) AND Mexico Stock Exchange (BMV) | SPDR® Gold Shares | 782.852 | 25,169,479 | US$32,670m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,766m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$8,004m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$465m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 40.85 | 1,313,469 | US$1,709m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.02: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,320.26: No change from yesterday’s data.
The Miners:
WINNERS
1. Pretivm | PVG +14.16% $7.35 |
2. Great Panther | GPL +6.00% $1.06 |
3. Fortuna | FSM +5.58% $4.16 |
LOSERS
1. Silver Standard | SSRI -6.53% $7.87 |
2. Comstock | LODE -3.43% $1.69 |
3. Gold Resource | GORO-1.40% $3.52 |
Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.
Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.
- Chris Mullen, Gold Seeker Report
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-- Published: Monday, 12 May 2014 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold Gains and Silver Surges
